Economic benefits of solar energy for Turkey

Purpose: Turkey lies on the shores of the Mediterranean Basin, an area of high solar energy potential in common with Portugal and Spain. This potential can be used as solar thermal, water heating and photovoltaic. Solar energy is mainly used for water heating in Turkey. In this paper I will clarify the economic benefits of solar energy and provide information for future prospects.

Design/methodology/approach: A literature review was carried out.

Findings: There is little investment in thermal panels and photovoltaic resources. According to the Chairman of the Association of Turkish Photovoltaic Industry, Professor Engin Ture, the potential of solar energy is around 380.000 GWh/year, which is tremendously high compared to other clean energy resources. In the meantime, there is a high state incentive for solar energy investments in Turkey. The Turkish economy maintained high GDP levels in recent years. This increased the energy demand of the country respectively. Increased oil prices created a burden on the current account deficit of the country, which may hamper economic growth. Thus new investments in renewable energy resources became inevitable for the Turkish economy.